Hovnanian Enterprises (NYSE:HOV) Trading Down 5.1% – Time to Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares were down 5.1% on Thursday . The stock traded as low as $126.52 and last traded at $127.03. Approximately 46,480 shares traded hands during trading, a decline of 43% from the average daily volume of 81,266 shares. The stock had previously closed at $133.82.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Trading Up 1.3 %

The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $165.41 and its two-hundred day moving average is $179.58. The firm has a market cap of $785.70 million, a P/E ratio of 4.04 and a beta of 2.70.

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the sale, the chief executive officer now directly owns 45,635 shares in the company, valued at approximately $8,898,368.65. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now owns 13,290 shares in the company, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.67% of the company’s stock.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of HOV. Charles Schwab Investment Management Inc. raised its position in Hovnanian Enterprises by 92.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after acquiring an additional 23,990 shares during the period. Point72 Asset Management L.P. purchased a new position in Hovnanian Enterprises during the third quarter valued at $687,000. Truist Financial Corp purchased a new stake in Hovnanian Enterprises in the second quarter worth about $352,000. Victory Capital Management Inc. raised its stake in shares of Hovnanian Enterprises by 88.1% in the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock worth $2,034,000 after buying an additional 6,715 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at approximately $33,000. 65.40% of the stock is owned by institutional investors.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.